Skrill (formerly known as Moneybookers) were founded in 2001 in the United Kingdom and have quickly become one of the most frequently used e-wallets for everyday transactions. You can make any online purchase or top up your betting account via Skrill, while their Mastercard can be used as a regular debit card, in order to make purchases or withdraw your money from almost every ATM in the world.
According to estimations from the Ministry of Treasury in 2008, when they still operated under the Moneybookers brand, they offered their services in 200 countries and had over 6 million registered accounts. In 2011, the Sunday Times ranked Moneybookers as the fastest growing private equity firm in the United Kingdom, as they were established as a popular payment method for a number of global online brands such as Facebook, Skype and Ebay. Their brand name was changed to its current form in 2013, while in 2015 they came under the ownership of Optimal Payments (currently Paysafe Group plc), the parent company of Neteller.
Skrill & Online Betting
Topping up your bookmaker account through Skrill has become a widespread method for millions of punters. The main reason is because every deposit can be made within seconds, while all the withdrawals are free of charge and usually take a few hours to complete. Additionally, their many years of expertise and frequent inspections from various monetary authorities, will safeguard your account and any transaction you might make. You can also use the Skrill Mastercard to complete a withdrawal in no time through an ATM, while you can utilize their quick services as a means of odds hunting. If for example you are registered on two separate bookmakers and happen to find a profitable deviation between their sets of odds, you can instantly make a deposit and claim that sure bet before the odds are adjusted.
You might also be able to claim other profitable opportunities, such as limited time offers, or odds with an added value. Given that you can instantly deposit or withdraw your money, if you happen to find extremely high odds on a certain bookmaker, you can use this to your advantage and claim those odds before anyone else. This ease of bookie transactions applies the same way to different betting markets, as you might want to bet on a specific market that your current bookie does not offer.
Let’s say you have deposited your money on two bookmakers, Bookie A and Bookie B. You have decided to place two single bets concerning the match result of the Uefa Champions League match between Bayer Leverkusen and Atletico Madrid.
You want to place 10€ on the draw and another 10€ on Atletico to win. Bookie A offers you the following set of odds: 1 (4.00) X (3.30) 2 (2.00), while Bookie B has this: 1 (3.75) X (3.35) 2 (2.05).
If you were to bet only on Book Aie, your projected profits would be 20€ for a Leverkusen win and 13€ for a draw. Respectively, you would get 17,5€ for a home win and 13,5€ for the tie on Bookie B. What immediately becomes obvious, is that in order to get the most of your bets, you should bet on the “1” result on Bookie A and place your “X” wager on Bookie B. Although it might not seem like much of a profit, if you combine every wager you are going to place in an entire betting season, then this can prove to be a defining factor between success and failure.
It is advised to carefully read the terms and conditions regarding any sign up betting bonus or a promotional offer of a bookmaker. Although almost every bookie will accept a payment through Skrill, a number of them will not award you with a first deposit bonus if you try to claim the offer through an e-wallet. Finally, you should note that under the Directive 2005/60/EC of the European Parliament, the bookmaker obliges you to follow the same withdrawal method as your last deposit. An easy way of avoiding any added fees or long periods of waiting, is to make sure you always have enough money on your Skrill account for a deposit.
Top 5 bookmakers that accept Skrill
|Bookmakers||Why to Bet||Rating|| |
How to create an account
First of all, you have to enter www.skrill.com and click on the “OPEN A FREE ACCOUNT” banner at the center of the page. After you’ve read the Terms and Conditions, you can proceed by filling in your email address, that will technically act as your username and certain personal information on the appropriate forms. You might want to make sure to enter a back-up e-mail address just in case. At any time, you can purchase the Skrill prepaid card for an annual fee 10€, if you wish to keep your main banking details safe or have a better budget control, as you will only spend what is loaded on your account. Upon successfully completing these steps, your Skrill account will be ready to use.
Verifying your Skrill Account
Completing an optional identity verification process, allows sending/receiving higher-value payments (above 2.500 €). The account verification process can be concluded through:
1. Use your ID
You must send a scan or photo of your ID (both sides, all four corners visible), passport or driver’s license.
2. Address verification
Send a scan or photo of an official notice, such as gas or electricity bill, that includes both your address and name. Note that mobile phone bills are not accepted and that the document must have been issued within the last three months.
3. Using your bank account
You can send a scan or photo of your bank statement to [email protected] or select “manual bank upload” on your Skrill account. The first method will take about 1 to 2 working days to be confirmed, while the second one lasts about 3 to 5 working days.
4. Verification via credit/debit card
Simply login to your account and click on the Cards and Bank Accounts section. Select the Verify link that is found next to the card you wish to verify. A small amount of money (ranging from EUR 1.01 – 2.99) will be temporarily debited from your card. Check your bank or card statement in order to view the exact amount and then go to your Skrill account to confirm this amount. You will receive your debited funds after the verification has been successfully completed, which should take about 1 working day. They have made it known that a card verification feature will be added to their mobile app in the near future.
Added security: Two Factor Authentication (2FA)
Although using only an e-mail and a password might be handy, you can never be too secure when it comes to your money. In order to safeguard your Skrill account even further, you can use your mobile device to complete the Two Factor Authentication. All you need to do is download the Google Authenticator app from the Apple store or the Google play store, to your device. Then enter your Skrill account, choose “Turn ON 2-Factor authentication” and scan the QR barcode displayed to you on the setup screen, or enter the key manually by clicking on ‘Manual key entry’. Upon having completed this procedure, you will receive your 2FA Recovery Codes. Make sure to keep these codes in a safe place, as they can be used only for a single time, in case you happen to lose your phone and need to generate new codes. For more information, visit the support page at www.skrill.com/en/support.
Deposit & withdrawal methods
The easiest way of adding funds to your Skrill account is by receiving a money transfer from another account. You can alternatively use Neteller to make a transfer at only 3% charge, given that these two e-wallets are under common ownership. You can view every deposit and withdrawal method, along with their fees, on the following table.
|Deposit Method||Fee||Withdrawal / Transfer Methods||Fee|
|Bank Transfer||Free of Charge||International Bank Transfer||5.50€|
|Credit/Debit Cards||1.90%||Only through Visa||3.95€|
|Neteller||3.00%||Annual subscription fee for Skrill Mastercard||10€|
|Paysafe||7.00%||Withdrawal via Skrill Mastercard||1.9% (plus ATM subcharges)|
|Transfer Money to Other User||1%||Receive Money From Other User||Free of Charge|
The above methods are eligible on for Malta residents. Different laws may apply depending on your country of residence and its legal framework. You can only use Skrill if you are a EU resident.
Like we mentioned above, you can first of all acquire the prepaid Mastercard and use it as a regular debit card in order to make online transactions and withdraw money from any ATM. Additionally, if you are planning on transacting vast amounts of money (more than 6.000€ each quarter), you might qualify for the Skrill VIP premium membership. Through this feature, you are able to claim some cool features, such as a security token, lower charges on deposits & withdrawals and the possibility to have more than one account linked to your e-mail.Services
Advantages and disadvantages
Instant, free of charge deposits on your betting account
Accepted on the most popular and trustworthy bookies
Exclusive betting, casino and poker promotions. Make sure to check all the bookmaker offers located at the bottom of your Skrill account.
Instant withdrawals through the prepaid Skrill Mastercard.
Low withdrawal fees.
24/7 Customer Service. If you can’t find an answer to your problem on the Frequently Asked Question tab, you can contact the customer service team by sending an e-mail at [email protected], at any time.
A certain fee is imposed for any transaction between two Skrill accounts
In order to acquire and keep using the prepaid Mastercard you have to pay an annual fee of 10€
“Suspicious behavior”. In some cases, a bookie will act suspiciously towards players using Skrill and will try to place limits on their maximum stakes. This is due to the fact that e-wallets have been tied to arbitrage betting, as they allow every bettor to withdraw his winnings instantly.
Where to bet with Skrill
|Bookmaker||Deposit Charge||Min. Deposit||Max Deposit||Pending Time||Withdrawal Charge||Min Withdrawal||Pending Time|
|Free of charge||1€||Instant||Free of charge||2€||15 minutes||Claim|
|Free of charge||€10||No limit||Instant||Free of charge||€10||A few hours||Claim|
|Free of charge||10$||No limit||Instant||Free of charge||25$||1-4 hours||Claim|
|Free of charge||$20||$500||Instant||2 Free/28 days||$1||Up to 48 hours||Claim|